<span style="font-weight: 400">Reportedly, the popular public blockchain platform <a href="https://www.cryptoknowmics.com/news/23-new-cardano-staking-pools-created-in-the-past-24-hours/">Cardano (ADA)</a> is garnering notable traction with respect to the total value locked (TVL). It has been steadily climbing since the beginning of the year. </span>
<h2><span style="font-weight: 400">Fair Share of Trouble for Cardano</span></h2>
<span style="font-weight: 400">The growth of the Cardano Network as observed has been quite sluggish. However, the founder and CEO of the network, <a href="https://www.cryptoknowmics.com/news/cardano-founder-charles-hoskinson-lays-out-2022-plans/">Charles Hoskinson</a> has been keen on scaling the blockchain to be more favorable for applications to launch on the mainnet. </span>

<span style="font-weight: 400">Hoskinson is expecting a 'large wave' of new applications, post the upcoming network upgrade named ‘Vasil’ to roll out. It is expected to attract a massive influx. </span>
<h2><span style="font-weight: 400">Progressive Growth of Total Value Locked by Cardano</span></h2>
<span style="font-weight: 400">Only two weeks ago, on March 9, the Miniswap DEX launched on the network and gained increased popularity. Additionally, the present DEX also garnered an influx of funds that noted a surge of $200 Million in the TVL.</span>

<span style="font-weight: 400">The previous DEX, SundaeSwap launched in January, has permanently taken a backseat with $111 Million TVL. However, SundaeSwap couldn’t sustain all the issues the users began to have due to failed transactions. These issues were then blamed on network congestion by the developers. </span>
<h2><span style="font-weight: 400">TVL on Cardano Skyrockets</span></h2>
<span style="font-weight: 400">The cryptocurrency-centered analytics firm DeFi Lama’s collected data shows that the Cardano Protocol’s TVL has successfully succeeded the $300 million mark. The price of ADA has been steadily picking pace. In the past seven days, ADA’s price has noted a 28 percent increase, hovering above the $1 mark.</span>

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Total Value Locked by Cardano (ADA) Breaks Record of $300 Million

The popular blockchain platform, Cardano (ADA) has garnered notable traction concerning the total value locked (TVL) of $300 Million.

Priyanka is an active crypto enthusiast. Having graduated with a BA in Journalism and Mass Communication, she is a passionate content writer with a strong understanding of financial content. She has been writing on crypto and blockchain-related topics for the last three years and is an active trader.

Total Value Locked by Cardano (ADA) Breaks Record of $300 Million

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